More than 50% of the population of the world indulges in gambling annually. This is a huge industry with both pros and cons alike just as a coin has two sides. In this write-up, let us explore more on topics like-
- When does gambling become a cause of concern?
- Fast facts and Figures related to gambling.
- Growth of the industry.
So, let us explore one topic at a time in the paragraphs below.
When does gambling become a cause of concern?
Remember, the casino rewards that you win are just a small part of the game. You will come across many such people that enjoy the proceeds of the casinos as their passive income. And it will not be wrong to say that during the pandemic when people are losing their jobs and suffering pay cuts, these proceeds from casino rewards are of immense help to any household.
However, there are instances when gambling does become a problem. But that is entirely your own decision whether to stay within limits or go overboard.
As a responsible human being, if you know your limits, this indulgence should be causing any problem. But when it upsets the equilibrium of your life, it is at this point that you must apply brakes.
Try not to get into a vicious cycle of greed, loss, and victory. Also, it is best not to turn to gambling to ward off your depression, anxiety, and stress. Remember, it worsens the situation. According to The Royal Australian and New Zealand College of Psychiatrists (RANZCP), approximately 90% “problem gamblers” suffer from at least one mental health issue. So, it is in your hands.
Fast facts and Figures related to gambling.
Check these out-
- The online gambling market was valued at USD$53.7 billion in 2019. As per predictions, the market is expected to grow at compound annual growth rate of 11.5% between 2020 and 2027.
- Studies reveal that those that are engaged in problem gambling suffer from one mental disorder at least.
- Melco, a HongKong company is the regarded as having the world’s largest gambling business with revenues from business recorded at USD$5.03 billion in the year 2019 alone.
- It was also found that more and more people indulged in gambling and visiting casinos for bonuses and rewards during the lockdown.
Growth of the industry.
Casinos and online gambling is registering a very strong growth according to a report provided by Grand View Research Report. During the lockdown, we know that social distancing is in place that prevents people from going out of their houses.
As such, the concept of e-sports grew remarkably with e-sport betting being expected to surpass or at least hit the USD$14 billion mark in 2020, which was just twice the figure of what it was recorded as the previous year.
This was established by a report from a global research agency, 2CV and ProdegeMR. In fact, this industry is not just about slot machines, casinos, and gambling.
Melco, world’s biggest gambling stalwart as part of its Simple Acts of Kindness program in 2020, assisted many people during the ongoing Covid-19 pandemic, offering assistance and help to the needy.